Streetbeat News

Equity Actions

FIS

Fidelity National Information Services (FIS) announced the commencement of offers to purchase up to $2.25 billion aggregate principal amount of its outstanding senior notes. The purchase will be based on acceptance priority levels, with no series of notes subject to proration.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 9:27 am

GOOG

GOOGL

Bill Ackman, founder of Pershing Square Capital Management, has identified Alphabet Inc. (GOOGL, GOOG) as a prime investment opportunity, emphasizing its strong market position, particularly in AI. Despite recent challenges, such as the AI scare from Microsoft's ChatGPT, Ackman believes Alphabet's core business and advertising dominance remain robust. He also mentioned Alphabet as part of the 'Magnificent 7' stocks, highlighting its long-term value.

Portfolio Pulse from Ananya Gairola

February 27, 2024 | 9:14 am

QTRX

Quanterix Corporation (NASDAQ:QTRX) has reaffirmed its 2023 guidance, expecting GAAP gross margin in the high 50s percent and non-GAAP gross margin around 50%. The company rescheduled its Q4 earnings call to February 29, 2024, to align with the filing of its Annual Report for the year ended December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 8:10 am

WCC

WESCO Distribution, Inc. has priced its offering of $900 million in 6.375% senior notes due 2029 and $850 million in 6.625% senior notes due 2032. The amounts for both the 5-Year and 8-Year Notes were increased from the initially announced $750 million. Both sets of notes will be issued at 100% of their aggregate principal amount, with the sale scheduled to settle on March 7, 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 7:45 am

PLOW

Douglas Dynamics forecasts 2024 net sales of $600M-$660M, aligning with a $633.93M consensus. Adjusted EPS is projected at $1.20-$2.10, versus a $1.74 consensus. The company anticipates 50%-100% EPS growth from 2023, attributing this to demand recovery in Attachments and ongoing profit and margin enhancements. The expected effective tax rate is 24%-25%.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 7:12 am

ARKB

BITB

COIN

IBIT

MSTR

Bitcoin surpassed $56K, with Ethereum and Dogecoin also seeing gains as the crypto market cap exceeds $2T. The surge is attributed to factors like spot Bitcoin ETF inflows and positive investor sentiment. Trading volumes for nine spot Bitcoin ETFs hit a record $2.4 billion, with BlackRock's IBIT leading. MicroStrategy expanded its Bitcoin holdings. The S&P 500 and Nasdaq saw declines, while stocks linked to Bitcoin's price, including Coinbase and Microstrategy Inc, surged.

Portfolio Pulse from Mehab Qureshi

February 27, 2024 | 2:59 am

AMH

PEAK

American Homes 4 Rent will replace Physicians Realty Trust in the S&P MidCap 400 before trading opens on March 1, due to Healthpeak Properties Inc.'s acquisition of Physicians Realty Trust. Healthpeak Properties will change its symbol from PEAK to DOC post-merger.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:21 pm

RIOT

Riot Blockchain, Inc. (RIOT) has entered into a sales agreement as of August 9, 2023, with sales agents to potentially offer and sell shares of its common stock up to an aggregate initial offering price of $750,000,000 over time through the sales agent.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:01 pm

PUBM

PubMatic's Board of Directors has authorized an expansion of its share repurchase program, increasing the total authorization to repurchase up to an additional $100 million of its Class A common stock through the end of 2025. This expansion is on top of the previous authorization of $75 million. The repurchases will be funded with existing cash and cash equivalents and marketable securities, and the program's execution will depend on various factors including market conditions.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:01 pm

CDE

Coeur Mining, Inc. (CDE) announced a private placement of 7,704,725 flow-through shares for $25 million to fund exploration at the Silvertip Property. The proceeds will be used for Canadian Exploration Expenditures in British Columbia and Yukon. The offering, subject to a four-month hold period, aims to evaluate the silver, lead, and zinc resources. It is scheduled to close around March 8, 2024, and will not be offered in the U.S.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:55 pm